Tax,
Government,
Corporate
Apr. 27, 2018
With new tax law, there may be more co-ops in California’s future
In light of the recent tax overhaul, setting up a cooperative — mistakenly perceived to be the domain of farmers and workers’ collectives — may provide a viable option for some business owners.
Phil Jelsma
Partner and Chair of the Tax Practice Team
Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)
Email: pjelsma@cgs3.com
Phil is chair of the tax practice team at CGS3. He is recognized as a leading joint venture and tax attorney, with a 30-year background in real estate exchange transactions, syndications, nonprofit corporations and international tax planning.
In light of the recent tax overhaul, setting up a cooperative -- mistakenly perceived to be the domain of farmers and workers' collectives -- may provide a viable option for some business owners.
Generally, the recently enacted Tax Cut and Jobs Act allows a 20 percent deduction for qualified business income -- trade or business income that does not come from a specified service trade -- earned by a partnership, LLC, S corporation or ...
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